Retail Store Insurance

If you sell products in a physical store, online, or both, you need insurance. It’s that simple. Retailers face daily risks, from damaged inventory to liability claims. Without coverage, one unexpected incident could mean thousands in out-of-pocket costs—or worse, shutting your doors.

Here are just a few examples of businesses that should have retail store insurance:

No matter what you sell, protecting your business with the right policy ensures you can keep doing what you do best—serving customers.

Retail store insurance pricing varies based on several factors, but having a general idea of what to expect helps you budget effectively. Here’s what influences your costs:

Key Factors That Affect Cost:

• Business Type & Products Sold – Higher-risk products (e.g., electronics, alcohol) often lead to higher premiums.
• Store Location – Stores in high-crime areas or disaster-prone regions may pay more for coverage.
• Annual Revenue – Higher revenue can mean greater liability exposure, impacting costs.
• Number of Employees – If you have staff, you’ll need workers’ compensation insurance, which adds to your total cost.
• Property Value & Inventory Size – The more assets you need to protect, the more your policy may cost.

Estimated Costs for Common Policies:

• General Liability Insurance: $300 – $1,500 per year
• Commercial Property Insurance: $500 – $3,500 per year
• Workers’ Compensation Insurance: $500 – $2,000 per year (if you have employees)
• Business Owner’s Policy (BOP): $500 – $3,500 per year (bundling property, liability, and business interruption coverage)

Bundling policies or adjusting coverage limits can help control costs. The best way to find the right coverage at a competitive price? Get a quick online quote.

For many retailers, the answer is yes. A Business Owner’s Policy (BOP) is a smart way to bundle essential coverage into one cost-effective package.

A BOP typically includes:

• Property Insurance – Protects your store’s building, inventory, and equipment from fire, theft, or vandalism.

• General Liability Insurance – Covers customer injuries and third-party claims.

• Business Interruption Insurance – Helps replace lost income if your store has to close temporarily due to a covered event.

A BOP is ideal for small to mid-sized retail businesses, but larger operations or those with unique risks may need additional coverage. If you employ staff, handle large amounts of customer data, or offer deliveries, you may also want to consider: